union movement. good afternoon welcome to capital account i'm lauren lyster here in washington d.c. these are headlines for wednesday october third two thousand and twelve brought obama and mitt romney laced up for their first two thousand and twelve u.s. presidential debate do they represent two heads of the same monster even economically speaking gerald celente is here with his autumn trends forecast plus reuters reports lockheed martin and the pentagon are in talks at the senior level over the fifth order of the f. thirty five this is of course the behind schedule over budget by billions pool eg with safety issues f. thirty five that you never imagined was supposed to be the future of the pentagon

air arsenal we'll look at the cost of inefficient government spending to the economy's health and four years ago today george w. bush signed tarp let's take a look back at what lawmakers were told would happen without it according to this account. the market would drop two or three thousand points the first day another couple thousand the second day and a few members were even told that there would be martial law in america if we voted no. all right it may be history now but does someone on a reported treasury secretary short list or more than one person make a bank bailout two point zero is sound all too plausible we'll discuss let's get to today's capital account.

capital account is an economic show rarely ever or do we delve into the space of politics or foreign policy despite being situated in the nerve center of pax americana we find the independence granted to us through such detachment to be worth more than the benefits of opining on matters of state will leave that to the fox news is of the world but tonight as you know two candidates are vying for the presidency in two thousand and twelve and they take this stage and what has become an annual circus of sorts for political pundits and a source perhaps of indigestion for some of the rest of us and today we also have a guest whose job it is to forecast trends not just economic but political geo political social and cultural so it's a good opportunity therefore to break our silence on matters of state and to offer an opinion or two for whatever they're worth now it appears to us somewhere somehow

america wildly off track after a great depression that lasted on and off for more than a decade americans were plunged into a world war that saw a roughly sixty million dead from a global population of just over two billion people these numbers though clearly estimates are nonetheless staggering by any contemporary measure the economic devastation of course was a measurable and so americans were turned from the war to the only industrialized nation left unscathed left standing unscathed their own the united states it was the beginning of a multi-day for a country of hardened men and women and after fifteen years of peace they elected the first president from their own generation john f. kennedy i'd like to play you a part of a speech that he gave in american university right here in washington d.c. only months before his assassination in dallas it's a famous speech one word j.f.k.

announce plans for the development of the nuclear test ban treaty and his does. cision to unilaterally suspend all atmospheric testing of nuclear weapons it was a bold step towards peace and one that was not unilaterally popular certainly not amongst those who drive purpose as well as profit from war let's take a listen. i am talking about genuine peace. the kind of peace that makes life on earth worth living. they have the kind that enables men and nations to grow and to hold. and build a better life for their children. not merely peace for americans. but peace for all men and women. reflect on that moment for this for a moment we've become so obsessed with security that we've conflated it with peace j.f.k. understood the difference between these two which is why you identified the security of the slaves as a false prophet for peace he spoke of the peace that makes life worth living. what

kind of a peace do i mean and what kind of a peace do we seek not a pax americana in forced on the world by american weapons of war not the peace of the grave all the security of the slaves i am talking about genuine peace. the kind of peace that makes life worth living. a peace that makes life worth living not a peace that comes with a state of perpetual war perpetual fear and an ever shrinking world of opportunity and freedom there was constructive action in his remarks about peace whereas today it seems that all the talk of peace involves surrender in every place but the battlefield but not everyone has been so dold by the propaganda of bounding on matters of war and peace many out there are committed to freedom and peace those believe we can have both despite the false claims of flagwaving armchair generals

and our next guest certainly fits the mold he's here to tell us about the trends he sees forming over the horizon ahead of his autumn trends journal released next week that we have a great pleasure of giving you a sneak peek in fact you can see the cover right there he's gerald celente and he joins us now from kingston new york so first thank you so much for being on the show on the eve of this first presidential debate. well first of all as you may know i'm a political atheist i don't i don't believe i don't believe in these you know political gods nor do i bow down to them and when you look at the data coming in this is probably one of the least exciting elections that i've ever witnessed in my lifetime and what people will be doing and that's why the cover of the trends journalism as it is they're going to be voting for a lesser of two evils when you look at all of their what you're talking about

they're not really talking about policy they're whether it's economic policy a foreign policy it's just an attack game and so what the people are going to end up with regardless of who they vote for is more of the saying the only question that will arise that the end was will be who will destroy the nation the slowest while i guess that does then become a key issue doesn't it you know we've talked about this before many times gerald that's kind of two headed monster politicians you know it's two sides of the same coin but one thing that struck me in your trends journal that's coming out soon is that you say the u.s. is experiencing the greatest leadership vacuum in history so if so why now because we do have people to compare this to for example richard nixon and watergate so why now. i mean little watergate was chump change compared to this stuff how do you

think about it you know nixon gets taken out of office for long about watergate how about this one lauren how about starting a war in iraq because the guy had weapons of mass destructions and top al qaeda that made it in hand and it just keeps going on take the fight what is you know it wasn't always like this and people think it was. i was it when you go back to the great depression you know the bankers were also responsible for putting laws in place to give the people confidence in the banks such as glass steagall it didn't happen on its own and now what are they are you going to compare the people back then to the people now you know you mention you mention kennedy and ironically you know and you just had my assistant run over and get this this is a photograph of me and john connally in front of the book depository with his wife

nellie and connally was the guy that took a bullet in the back sitting in front of kennedy and he asked to meet me i had written my book trying to track and this was in one thousand nine hundred two two weeks before the election and i had predicted that to be the new third party and for some reason in my book that i wrote in eighty eight i mentioned ross perot's name and connelly and i you know he told me the story what happened that day i was with a couple of other people and we're walking back into the anatole hotel and he looked at me and he said you know i read your book and it's a fine piece of work he said we don't have a clue what's going on in this country why i neither did the american people because if they did they'd be a revolution in this in this country and that's what's going on this is a guy by the way that told nixon to pack up his bags and leave telling me that if

the american people knew what was going on there'd be a revolution in this country that was ninety two lead to what did he mean gerald what was he referring to he was referring to the corruption to the immorality and you compare then to now and look out we've declined look at we have the president sits on tuesdays and has tara tuesdays pick up today's new york times. they're talking about sending predator drones it's other areas of north africa there are kid ramping up for more and more war you know you keep seeing what's happening in front of us and the people are turning a blind eye is this still greatest leadership vacuum that eyes of a saying have you watch the presidential reality show did you turn on those conventions that were part and that super bowl halftime show and mega-church revival meetings what respectable person could believe this garbage that is spewing

out you know john i want to want to dive more into a couple of the things that you said because you talked about the people and you talked about the decay and the kind of progression that we've been on but to go back a little into history too you actually brought up an eisenhower quote that we were talking about earlier today in our morning meeting which was the observation that any man who wants to be president is either an egomaniac or crazy so has this always been the case in terms of the kind of people that are president and if so what's different now. well of course it hasn't been look at romney that cat's never been stopped running since he ran for office the first time in massachusetts as governor i mean how long has this guy been running for president how about obama is a guy i have a work then he's always with his sleeves rolled up on the campaign trail could you imagine the eisenhower sitting down with the ladies of the view and saying.

i mean come on this is disrespectful it's the president show reality show and it's real as the rest of the reality shows there is no reality it's a country that's gone out of its new and running mindless wars i love it the military changing its strategy now more toward north africa. and other sections of the middle east oh yeah after you did such a great job in afghanistan and iraq move on war failures it's failing at every level and by the way this is very important think about the economy is going down and for so many people they're losing their homes trillion dollars in debt for college students that can't get jobs thirty percent of the jobs created in august for low paying service sector jobs working at fast food great food restaurants and

where's the economy where are they really talking about the economy it's not the economy stupid as they once said it's war and that's all they're talking about and that's an interesting point in terms of the economy what we've heard this conversation turned into is tax is the candidates focused on their tax policies but none of that no amount of taxing is going to get the country out of its fiscal problems in terms of the debt that it faces i'm curious what you think we'll see in the next four years and terms of the consequences of what you essentially call it papering over what should have been a collapse after the panic of zero eight with fed policy and with stimulus and bailouts. or you're seeing it already with bernanke eased record low interest rates and saying that they're not going to go up slip they're doing is they have flooding the economy with more cheap money and devaluing the dollar you know that i dance walking about goldsack along now yeah and what's gold you know it's at seventeen

seventy seven as we speak and here's our forecast by the way is gold closes out this week at over seventeen hundred and eighty dollars an ounce we're forecasting the next gold bull run because not only is the united states stimulus coming out of china level and jerrold we're going to talk more about that after the break i do have to head a quick one right now but we'll have more of gerald plenty. trends research institute so don't go anyway and still ahead we will hear more from gerald celente on his predictions for the next great war but first your closing market numbers.

i'm going to. hear is mitt romney trying to figure out the name of that thing that many americans call i don't know. i'm sorry i missed the guy who cares an awful lot of money you sir are a fool you know what that is my other terror cells in your neighborhood want us to defeat terrorism the only liberal the christian. can secure beliefs about it's. going to support you to distract us from what you and i should care about because

they're profit driven industry that sells a sensationalistic garbage he calls it breaking news i'm abbie martin and we're going to break this that. looks. welcome back we're talking to political atheist gerald celente who before the break we're sharing not only a very insightful personal story but he then towards the end of the segment said laid out his predictions for a possible gold bull run so i want to follow up with that and not waste any time gerald celente trends research institute let's talk about this so why do you predict a gold bull run if gold hits what did you say seventeen something this week. so

i haven't seen eighty that's not a market we're ok ok because lauren look at all the stimulus coming out of virtually every country i mean the europeans are buying up all these worthless bogs the european central bank they're going to be dumping more money into the the european stability mechanism you're looking what's going on in the united states as i mentioned ben bernanke the. coming flood out and saying we're not going to see high interest rates for a long time to come and of course this is killing people trying to save money and then again china china is dumping record stimulus in their all paid dumping money into the system to keep it going so in effect they devaluing their currencies the money this digital money is not worth the digital paper it's not printed on so the more they print digitally the higher prices go up and then there's the other levels

because it's not only one dimensional is war two all the time i mean look what is going on with iran yeah i know i know and i want to ask you about that because you have talked about the next great war you have talked about the warmongering over iran you've talked about the currency wars and possible trade wars with china so what do you think and your forecast is where we see the next hot spot and do we see the u.s. actually pursue another war it's going on all right. and a mom yet in. bahrain bahrain never gets in the news the place is up for grabs the saudis have invaded there are no supporting the in media you look at what's going on in libya all the wonderful humanitarian mission it was beautiful happy days are there again a wonderful democracy it's a civil war you look what's going on in syria a civil war you think it's getting much better in egypt or in tunisia how about the

millions of people taking to the streets and they're not doing it for a picnic it's spain in portugal in greece look what's going on throughout the european region the official the official numbers are eleven point four percent unemployment it's much higher than that the war is so already happening you know how they say generals keep fighting the last war yes that's what they're doing again this isn't going to be like a world war two you're going to see hot spots they go into civil wars regional wars and then world wars america is a world it was look what they did they passed the national defense authorization act and what that they say that the nation is in a state of war a war of terror so you're seeing it keep building and building and building and the parallels are identical the crash of twenty nine the great depression currency wars trade wars world war the panic of oh wait the great recession sless depression it's

a depression for a lot of people the currency will but you heard month tag of the brazilian finance minister last week saying a currency war has begun the united states and other countries are cutting the value of their currency so their exports could exploit want stuff and you're hearing on the campaign trail from romney and from obama about getting tough on china and you're going to hear more of that around the world and then what follows the great war the first great war of the twenty first century is already on. way people are going to wait for the archduke ferdinand moment when they said ah ha that would be gone like you'd just begin like that and how do you forecast that that will will come to a head and that we won't just see more of the same because we've got a few years now protests on the streets in european countries facing austerity we've heard the current currency war talk before and we've seen currency wars this is the brazilian finance minister saying this after famously saying it

a few years ago so what makes you think that this will come to a bigger crescendo because of the new policy who wouldn't you know that you go back ward and you read you know what was going on earlier this year oh no the fed's not going to come out with a q e three i mean that was that that was the general perception yes and the europeans they were going to buy up all these worthless bonds so now everyone's up the ante and you talk about the protests look what they just passed in greece and in spain and in portugal in the last few weeks more measures or sturdy measures that means we're going to cut your pensions cut your benefits oh and we're going to tax you more and our income is going to decline conditions will get worse you'll lose more hardships will increase and it's class warfare it's going on it's building again these things don't flare point at one point they keep

building and again. go back two years ago was libya where it is now was syria where it is now go back when was the arabs and it was an arab spring by the way that's a lot of baloney it was not about a pro-democracy movement it's about a lot of people with no money you get a real yeah greed because everybody it's a few people at the top of the pyramid have everything and everybody else does and they're living on an average of ten dollars a day over there in egypt eighty million people in a country not big enough with enough resources to support them the same in tunisia the same is going on since spain in all of them it's a it's of every everyone's broken with the next great war it's hard to imagine the u.s. being able to afford that yet it still pours money into programs like the f. thirty five that have been massively over budget but i want to move on because we just have a minute i want to talk about individual freedom on a more personal level because you've had this battle with your name and your

trademark and the websites that people have started using your name writing information they it has defamed you and hurt your reputation according to you and also they're profiting from ads and yet you haven't been able to take these down what's going on we've contacted google we've said we we sent our attorneys have said letters to google saying it's a trademark infringement people have taken our general celebrity blogs plenty of channels i had google this kind of a larry page blogs and put the family story in summation up there and put it anti-semitic information or a surrogate. blogs so in other words it depends who you are if your name is oprah or obama or a page your brain they're going to take down the blogs pods but they're allowing people to use my name a trademark name and millions of fans and profit off it and google i sent you the letter i saw the letter logic letter it's like

a kid wrote that letter from their. blogger team it's like writing the soviet union because that's what google is it's like they told you you know your best luck is to try and find an email address on these blogs and contact them directly because there's nothing we can do so an example of what we've talked about before of a two tiered justice system we're going to leave it there today i really appreciate you being on the show that's gerald celente of the trans research institute. ok let's wrap up with loose change because we can't resist an opportunity to talk about a story that feels very fitting given the fact that it's the four year anniversary

of tarp so if romney does win the presidential election the financial world wants to know who would be the next image the geitner we all want to know actually and republicans possible candidates according to reports include columbia university's glenn hubbard former wells fargo c.e.o. richard cote. of ace of it and former merrill lynch c.e.o. john thain and they not a history we know of being a lavish spender check out all the redecorating he did his manhattan office while the company was imploding. mr thing paid out at least three billion dollars in bonuses to his people and spent a million to redesigning his office are not sufficient risky thing you also have four pairs of curtains or twenty grand. that's really just a chest of drawers not a toilet thirty five thousand dollars. so the commode was what went down in history but it's actually not a toilet so keith olbermann got it right but the bigger question and this is

a great portray hole of of what the magazine cover could be if this is what plays out is come on putting the exact same kind of guys into the top spots of the treasury it's hard to imagine anything being done differently than what we've seen for the past four years in terms of bailing out banks and pro bank policies that favor the banks over everybody else just they make it so obvious john thing for goldman sachs merrill lynch during the shotgun wedding goes to a group and now after two years plus there he's on the short list to become treasury secretary and the other guy we're going to choose there is glenn hubbard who was chairman of bush's council of economic advisors i mean it's it's amazing that there is no no attempt even. to even hide the fact that wall street and government co-exist under the same umbrella. fashion that we don't see in any other industry united states right because there isn't even any attempt to find somebody that doesn't have these completely cliche credentials that people have become incredulous at least average people or people that are part of the establishment so

do you think that just shows a massive disconnect between these politicians and their ivory towers and other people just everyone else the people that we interview on our shows our audience us . of course and i but i think there's also hubris because i think there are so disconnected and they feel so and both the and what two thousand proved to them they proved to them that they could ultimately get away with anything yeah the system was bankrupt they had taken on so much leverage and they were able to get bailed out not just to the tarp was just an excuse to just an excuse to enable the larger. tried to make bailout from the federal reserve all right so so these guys learned that they could screw up and that everything will be all right they could fail and it's a trend that we see continuing up so we'll have to leave it there because that's all we have time for but thank you so much for watching have a grade. night and in the mean time you know you can follow me on twitter at how lauren lyster you can like our facebook page facebook dot com slash capital account

it is shaping up nicely go check it out give us feedback catch anything you missed it you tube dot com slash capital account watch is in h.d. on hulu that's all a mouthful now just go have a great night. for sure is that so much of the taxpayers' money i mean everyone says you're going to really train this week calling for austerity reeling from one crisis to another the western world is going to rescue the banking and financial sectors the. wealthy british style. sometimes that's because the. markets why not. find out what's really happening to the global economy

with mike stronger for a no holds barred look at the global financial headlines tune in to cause a report on r g.